Bloomberg PrivateBancorp Inc. investors approved a $4.9 billion takeover by Canadian Imperial Bank of Commerce (CIBC) after the Toronto-based lender sweetened its deal twice to win over shareholders. The majority of PrivateBancorp shareholders endorsed CIBC’s bid, the Chicago-based lender said in a statement following a vote at a special meeting. Some 52.9 million votes — 83 percent of those cast …

Bloomberg Credit Suisse Group AG, the Swiss lender struggling to improve performance at its stock-trading unit, replaced one of the business’s top European bankers with a senior executive from Deutsche Bank AG. Stuart McGuire, who runs Deutsche Bank’s client-execution strategy for equities in Europe, the Middle East and Africa, will replace Daniel Kaye as Credit Suisse’s head of cash-equities trading …

Bloomberg The largest bank in Azerbaijan has halted its foreign debt payments and will start restructuring talks with creditors after a currency crisis in the Caspian Sea nation drove the lender to the brink of collapse. Under a restructuring plan, the International Bank of Azerbaijan said its “designated financial indebtedness” was at $3.3 billion as of April 18. It missed …